London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
interesting post trousers, thank you.looking at the recent news announcements re algorand, it seems they are becoming involved in several areas and, so far as i can tell, seem well placed to weather the current storm.just speculating of course.the problem we may have here, is that it appears algorand are actually going to issue a new coin/token, a napster token. i assume it will be tied in in someway to the platform when launched ,but just guessing.the idea seems,based on the media comments, to be something which is going to be geared to trading in NFTs. could be completely wrong of course. so we are not going to be buying them in the normal way,but rather we are being (in principle,)allocated a percentage of the new issue when and if, launched.as i say in the below post to albert,im sceptical of the chances of getting any and expect to have to settle for cash instead.my gut feeling is that this is going to feel unfortunate in hindsight, as i agree with you that the timing of the launch (next march inprincilple )is quite likely to prove to be a felicitous time to be re-entering the crypto/NFT market. total speculation of course.
afternoon albert.sitting overlooking the solent sounds very appealing.hope you made the most of the weather.well there my still be some more twists in the road on this one. tbh though ,im not particularly optimistic on our chances of getting any crypto. platforms like HL and II simply aren't geared up (or indeed permitted by regulators)to deal with it,or so believe. i know they have said they are looking into options,but i imagine they are going to want to deal with things in the simplest, least inconvenient way ,they can,as there is presumably no money in this for them.hope im wrong as it would be interesting to dabble in the crypto aspect.we will have to see.
Hi all, not sure if this is helpful but I too am an oldie and I used the covid lock down time to study crypto. For what it's worth to any of you the easiest way to get going is to open a wallet on the 'Exodus' platform. It's a very good site a relatively easy to use, and you will find an Algorand wallet there too.
I have found some exchanges (where you buy and sell crypto) to be super complicated but there are a few that are manageable ( kraken, gemini, BC Bitcoin,).
In short, you go to the exchange, deposit £'s, buy crypto, transfer to wallet (never leave it on the exchange!). To sell, do the reverse.
It wouldn't be a bad time at all to get some Algorand if that's what's in the offing because Bitcoin is down some 50% from 6 months ago and altcoins (anything other than Bitcoin, including Algorand) are down much much more. When it turns, and the smart money thinks it will do so sometime in the next 12 months, then Bitcoin will run first followed by altcoins.
My best learnt lesson is try to steer of any coins/tokens not in the top 50 by market cap. Check out livecoinwatchdotcom You will see Algorand sits at about 28th at time of writing. In fact, wise heads gave me the best and safest advice which is that a crypto portfolio, for safety sake, should be about 50% Bitcoin, 30% Ethereum, perhaps 15-ish% on something like Solana, Cardano etc. Many pundits believe that 99% of crypto is going to go to zero and when you consider that there are about 10,000 (I think?) then that will leave only around 100 when all the dust settles. Investanswers and digitalassetnews are cracking podcasts and there's lots to learn. Hope this is helpful.
Hi Italian, Offler.
All this is IMO as always, but maybe this is anything but finished and that Northern Trader may have had a point recently in saying we could still be shareholders.
The initial cash payment could have been worse, but in addition the plan is to let us have a quantity of Algo coins, which in effect means we are stakeholders in Algorand , and thus Napster. (Hopefully it will be in as simplified form as possible for the benefit of Italian and me).
This looks like a passive long term punt, but it may have legs. That said, Crypto is still in its infancy, and much regulation lies ahead.
I think we have to accept this all about music streaming and that live gigs have been scuppered. They have anyway to a large extent, and are unlikely to fully recover.
But the tech must have something, otherwise Algo, Hive and the rest of the consortium wouldn't have bought into it. Assuming there was no dilution this was a $27 million purchase. Not huge, but money nonetheless.
I agree Italian, AM is a clever techie, but a bit naive in business per se. They seemed to change NOMADs every five minutes. They arrival of Emmy Lovell does seems to have straightened things up
PS. This was drafted a bit earlier outside overlooking the Solent, So if it doesn't make sense , it's because I've had a bit too much sun .
wouldn't disagree with any of that offler. good luck.
Indeed one of them, still can’t help feeling that we could have used Covid to better our position. There was a lot of live and prerecorded streaming during lockdown, both music events and theatre, never really understood how we missed out in such a big way there.
Things seemed to change on an almost daily basis, the library, the two live venues, the link with a John Gore, the Napster headset, all of which in reality came to nothing because those in charge never actually took any project and saw it through to fruition.
Napster had been a dead duck bleeding to death financially for some time, didn’t make sense to take on Napster and it’s debt in an already crowded market.
Investing in hindsight..... if only.
Finally as it all comes to an end. It’s been interesting and fun to chat to you, Albert and others.
well thats the question (or one of them). there was a great deal of overly optimistic talk about the value of the recorded music library for example,when it was pretty obvious that its value was diminishing over time and was not being utilised in any real sense.personally i think mvr ws brought down by a combination of, first, circumstances and second, incompetence and /or very poor advice. things were going ok until covid blew the basic concept out of the water.no concerts to record.not MVR's fault.i was very disappointed when they acquired napster as my initial reaction to the deal terms was that they were awful and very ill judged.i simply do not understand how they decided, or were advised to agree to a deal where the potential liabilities of Napster were not precisely quantified and to agree terms whereby the number of shares to be issued in consideration was geared to MVR's share price, but with no lower limit to cap the potential dilution.madness imo. they then compounded the folly with the Nice and green deal,when it must have been obvious that it was just death spiral finance dressed up a bit. now im not suggesting it's easy to run a business (it's not) but you need to have competent professional advisors and be prepared to listen to them. ive no idea of course as to what actually went on,but my suspicions are that there was poor advice and perhaps pandering to the vanity project mentality,seduced by the nester name. but then all my best investments have been made with the aid of hindsight! lol.will be interesting to see whether any of the tech,library or other mvr assets actually reappear in any way in the new incarnation.and don't forget napster has quite impressive credentials as a service provider,e.g. sonos,bmw.
What is interesting is that Naps has been described as being of negligible value with little or no assets. What happened to the tech, 3D cameras, App, Naps headset, licences, and library of content.
I seem to remember a lot of people on here, claiming they would all have a value if something were to happen to the company, even a few days ago there was mention of a link to meta.
As of Thursday HL were still waiting to receive the payment
You have received cash for your shares already?
So you keep saying Horse, Can you offer any evidence of that? I don’t mean inept running of a company I mean evidence of criminal conduct
Yes, you can thank the crook Matchett for that, total liar, wonder if he's back in the UK now?
The cash has now arrived. It should be possible to transfer it into the bank - subject to it being cleared.
Seems to be the norm for this "share"......confusion reigns
all a bit odd highland.as you can see from my copy and paste of HL's message they didn't mention the additional payments either. i therefore emailed them yesterday with the details supplied by albert from II and have asked them to confirm the detail.i will let the board know when i get a reply.personally would have preferred to receive a full copy of whatever communications they have had rather than a precis and i may press for this in due course.
No mention of cash value or Napster tokens on secure message received form AJBell
Napster Music Inc has announced that it has entered into a merger agreement with Algorand Holdco I Inc and Algorand Holdco II Inc. This will involve combining two or more companies into a single company.
Under the terms of the merger, your account will be credited with cash in exchange for your shares held in Napster Music Inc.
We are currently confirming with Napster Music Inc the cash rate you are expected to receive per share from this merger agreement.
Further information regarding the merger will be released upon receipt.
The cash proceeds will be credited to your account once received.
Please copy and paste the below FAQ link into your web browser for more information on corporate actions:
Not sure what X stands for.
I'm with ii. There should be two columns. One showing Napster the other NM Inc.
The quantity is the total of your original holding divided by 750. e.g. if you had 750,000 you now have 1000.
They sent out a secure message yesterday about all this.
If you are not sure, be best to contact them. They are approachable.
Yep that’s right, the shares were converted one share for every 75 Old Napster shares, the new shares value is the amount under the value column which should work out at §6.07 per share,
Hi - on my ii account it shows as X amount of shares. If we're getting paid USD6.06... per share, means that I wild have lost most my investment. Am I working this our correctly?
very interesting albert thanks. the cash side seems fairly straightforward.the "napster token"aspect is intriguing.will have to wait and see if it is an option that can be made available to us.
Considering I thought I’d lost everything in this, I’m pretty happy with the initial $6 per share!
so this is from ii corporate actions.
First payment. $6.06/share. Not sure when yet.
2nd payment. There is an escrow fund of $5.2m. after admin payments the remainder is distributed amongst shareholders on 12-month anniversary of merger agreement.
3rd payment There is a shareholder fund of $500,000. Again after admin costs and 12-months remainder to be distributed among shareholders.
4th payment. Cash or tokens. Algo are to launch Napster tokens. Shareholders are to receive 7% of total allocation of tokens. If there is no launch within 12 months a further $2.5m cash will be set aside for distribution to shareholders
ii say they are investigating options available re tokens as they are not likely to be usable on their platform.
So as i see it the only way to profit from this is if you hold onto Algo Napster tokens for the long term - IF you have the patience.
evening albert.well it's giving me something to do in my old age lol. as someone who struggles with even basic computer skills, the prospect of possible crypto involvement invokes no small degree of trepidation.anyway lets see what unfolds.at least we are startingto get some more information.
offler thanks for that. what we don't now yet is whether those of us on HL(and no doubt similar platforms)will ever get the crypto option,or will simply be compelled to take the cash alternative as the only way that they can deal with it.still t least they say they' re exploring options.time will tell.yes I've been following algorand's progress( perhaps not quite the right description!),but it does sound as though a new form of coin or currency is being proposed,so we may have to look at valuations de novo at the time(if of course that option is available).gla
Do we know how many coins we will get per NM share?